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Both Fannie Mae and Freddie Mac reported fourth quarter losses ($3.6 billion and $2.5 billion, respectively.) Since the two entities have sustained such large losses, they have said they may sell additional stock or need to come up with other ways to raise new capital. Until they have the extra money to buy any substantial amount of new loans, the lifted restrictions are going to have very limited impact on the mortgage market.

Bernanke’s gloom report on the state of the economy Wednesday left many predicting another .5% rate cut. The Fed’s next monetary policy meeting is on March 18.

In the multi-family sector, rates remain good. We currently have access to short term fixed programs with interest rates in as low as 5.4%.

Author
~Sam Nelson, Venture West Funding: Website

This entry was posted on Monday, March 3rd, 2008 at 11:17 pm and is filed under Commercial Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.